President Biden welcomed Wednesday's inflation report that showed prices rose less than expected in May, but the cost of living for millions of Americans is still much higher than it was before he assumed office. The Labor Department said Wednesday that the consumer price index, a broad measure of how much everyday goods like gasoline, groceries and rent cost, was unchanged in May from the previous month. Prices climbed 3.3% from the same time last year.
It also costs more to buy a car , maintain it and insure it than it did four years ago. Biden acknowledged that many families "are feeling squeezed by the cost of living, which is still too high.
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